What should I pay?

r1ch999999

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The only time 84 months would make sense.

I was happy I squeaked under the wire with 0 @ 60 in December. Never argue with "free" money.
I forget what the deals were at the time, but I took the cash instead. It comes out better with the rates I get through my credit union.
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D Fresh

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I forget what the deals were at the time, but I took the cash instead. It comes out better with the rates I get through my credit union.
For sure. Always got to do the math!
 

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There isn't a whole lot of room between invoice and MSRP on these trucks. I was a bit surprised. Look for the price sheet on this board and add it up so you know going in. Those Internet prices are almost always with every possible discount, most of which you wouldn't qualify for unless you are a a college student who just got back from Iraq and volunteers fighting fires on the weekends, etc.

Ford offers their X-Plan if you have held stock (100+ shares) for 6 months or more, which is the perk I used.
 
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Well I did it.

2021 XLT Carbonized Grey
FX4 off-road package
Black Appearance package
Trailer tow package

Total MSRP on window sticker 39,990.00
Sale Price 33,649 + TTL, doc fee, and destination.
OTD 37,344.00

Not sure how I really did in the scheme of things but I am extremely happy with the truck and feel I got a reasonable deal.
 

JimG_AZ

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Yes, they give you a $1,750 discount if you use their financing. Still, if you do the math a credit Union rates have you come out ahead in the end. I almost did what you said but if I remember correctly there is a clause in the contract that makes this difficult. Where you will get the best deals now is 2020 models that haven’t been sold. They will most likely be close to dealer cost to move them
I would like to see the clause in the contract that says you have to keep the loan for at least 90 days. This would amount to an early payment penalty which I believe is not legal on a car loan. What you might get though is an angry phone call from the finance guy because he just lost cash from a loan kickback.

Edited…Since I was curious about this, I found a writeup on CarsDirect.com. They claim car loan pre-payment penalties are legal in 36 states and D.C., but prohibited by Federal law for loans over 61 months. The scariest thing about this is that when getting a loan, you are dealing with the biggest crook at the dealership – the finance guy. I would read those loan papers carefully. I would also make sure that monthly payment lines up with what a simple loan calculator says it should be.
 
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24dRanger

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What you might get though is an angry phone call from the finance guy because he just lost cash from a loan kickback.
I'm expecting a call from mine soon as I was told that in order to get the deal I had to finance with Ford. I said as long as there is no prepayment penalty/restriction I'm good as I will refinance with my Credit Union. So when it came time to sign I saw that they had switched it to First Third Bank at the same "great" rate of 4.49% for 5 years. Again, I made sure there was no prepayment penalty and signed the deal. I got the payoff as soon as the truck showed up in Alabama's title system and refinanced at 2.5% with my bank. It's only a $14k loan but its the principal of switching that ticked me off. I hammered them in the "how did we do" survey as well but I doubt that matters. But hopefully the finance guy didn't get to keep his fee as I never paid a payment to FNB.
 

r1ch999999

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I'm expecting a call from mine soon as I was told that in order to get the deal I had to finance with Ford. I said as long as there is no prepayment penalty/restriction I'm good as I will refinance with my Credit Union. So when it came time to sign I saw that they had switched it to First Third Bank at the same "great" rate of 4.49% for 5 years. Again, I made sure there was no prepayment penalty and signed the deal. I got the payoff as soon as the truck showed up in Alabama's title system and refinanced at 2.5% with my bank. It's only a $14k loan but its the principal of switching that ticked me off. I hammered them in the "how did we do" survey as well but I doubt that matters. But hopefully the finance guy didn't get to keep his fee as I never paid a payment to FNB.
The dealers around me will all give you the same finance credit if you use one of their banks. Luckily one of their banks is my credit union, which you have to be a Veteran to join, and consistently has the best rates around.
 

24dRanger

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The dealers around me will all give you the same finance credit if you use one of their banks. Luckily one of their banks is my credit union, which you have to be a Veteran to join, and consistently has the best rates around.
My bank is a preferred lender with them and the lady who refinanced my loan said that sometimes they get extra incentives from other banks ... especially to charge 2% more than I should have been offered (score is very close to perfect). I would have accepted the rate if it was tied to getting a special rebate as long because it is easy and free to refinance as long as there is no restriction/penalty. Dirty pool either way and given there are multiple dealerships closer to me I won't have to deal with them again. But their price and trade-in offer was way better than anyone else so they needed to move this truck apparently.
 
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I would like to see the clause in the contract that says you have to keep the loan for at least 90 days. This would amount to an early payment penalty which I believe is not legal on a car loan. What you might get though is an angry phone call from the finance guy because he just lost cash from a loan kickback.

Edited…Since I was curious about this, I found a writeup on CarsDirect.com. They claim car loan pre-payment penalties are legal in 36 states and D.C., but prohibited by Federal law for loans over 61 months. The scariest thing about this is that when getting a loan, you are dealing with the biggest crook at the dealership – the finance guy. I would read those loan papers carefully. I would also make sure that monthly payment lines up with what a simple loan calculator says it should be.
I got to the bottom of that rather quickly. There is not penalty for me and my state does not have pre-payment penalties. If I refinance before 90 days they don’t get their full kickback but there is nothing preventing me from doing it.
 

D Fresh

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Well I did it.

2021 XLT Carbonized Grey
FX4 off-road package
Black Appearance package
Trailer tow package

Total MSRP on window sticker 39,990.00
Sale Price 33,649 + TTL, doc fee, and destination.
OTD 37,344.00

Not sure how I really did in the scheme of things but I am extremely happy with the truck and feel I got a reasonable deal.
I'd be very happy with that deal.

I'd expect to see that on 2020's but it seems really good on a 2021.

In the end all that matters is if you're happy with it.
 

Bt_ostate

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1% to 2% below invoice less any applicable rebates is a good deal. When basically anyone can get Ă—-plan, nothing at or above that is anything special.
 

Chuck Lau

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I'd be very happy with that deal.

I'd expect to see that on 2020's but it seems really good on a 2021.

In the end all that matters is if you're happy with it.
Just Remember.....A GOOD DEAL is a State of Mind....Amen!
 

Dalentino

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I would like to see the clause in the contract that says you have to keep the loan for at least 90 days. This would amount to an early payment penalty which I believe is not legal on a car loan. What you might get though is an angry phone call from the finance guy because he just lost cash from a loan kickback.

Edited…Since I was curious about this, I found a writeup on CarsDirect.com. They claim car loan pre-payment penalties are legal in 36 states and D.C., but prohibited by Federal law for loans over 61 months. The scariest thing about this is that when getting a loan, you are dealing with the biggest crook at the dealership – the finance guy. I would read those loan papers carefully. I would also make sure that monthly payment lines up with what a simple loan calculator says it should be.
I took the higher priced Ford finance in order to get the $1750, even though I didn’t need it it. The dealer asked me to not pay it off for 3 months otherwise they’ve would lose their kickback. I agreed to that (verbal) and will honor it. They were working towards a good solution for all and that’s fine with me.
 

Chuck Lau

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I would like to see the clause in the contract that says you have to keep the loan for at least 90 days. This would amount to an early payment penalty which I believe is not legal on a car loan. What you might get though is an angry phone call from the finance guy because he just lost cash from a loan kickback.

Edited…Since I was curious about this, I found a writeup on CarsDirect.com. They claim car loan pre-payment penalties are legal in 36 states and D.C., but prohibited by Federal law for loans over 61 months. The scariest thing about this is that when getting a loan, you are dealing with the biggest crook at the dealership – the finance guy. I would read those loan papers carefully. I would also make sure that monthly payment lines up with what a simple loan calculator says it should be.
What is your Problem with Dealer finance Representatives? You need to Deal with Carvana.com & the dealer Employee's will get rid of Dealer Shopping Trash.
 
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Samsquanch

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What is your Problem with Dealer finance Representatives? You need to Deal with Carvana.com & the dealer Employee's will get rid of Dealer Shopping Trash.
I doubt anyone is going to a get the price I paid on my truck dealing with carvana/carmax/etc. the point of those places is no haggle no hassle but the trade off is a higher price. It’s pretty easy to tell if a loan has pre-payment penalties and I don’t think any of the Ford credit loans do from what I have read since I did this deal. I am just waiting for the title to show up in the mail then it’s a simple call to my credit union to refi the loan.

My interest rate is going from 5.9% to 1.9% on the loan.
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